Edward Yau Attends WTO Meet

Secretary for Commerce & Economic Development Edward Yau attended the Organisation for Economic Co-operation & Development (OECD) Ministerial Council Meeting and the World Trade Organization (WTO) Informal Ministerial Gathering in Paris, France.

Speaking at the WTO event, Mr Yau encouraged the organisation’s members to actively participate in discussions on e-commerce, domestic regulation in services and investment facilitation.

He said: "Another aspect which greatly concerns all of us is how to improve the functioning of our rules-based multilateral trading system.”

Mr Yau added Hong Kong welcomes reform proposals by members to facilitate discussion for improving transparency and monitoring functions of WTO committees and addressing concerns about the dispute settlement system.

Hong Kong is committed to taking an active part in the discussions to explore options and identify priorities for reform at the 12th WTO Ministerial Conference to be held next year, he said.

Commenting on the fisheries subsidies rules negotiations, Mr Yau said WTO members must redouble efforts to bridge the gaps and demonstrate flexibility to make compromises to conclude an agreement by the end of the year.

The commerce chief also attended an informal meeting on domestic regulation in services to discuss how to improve the regulatory environment for trade in services globally.

After the meeting, Hong Kong, together with 58 other WTO members, jointly issued a statement to commit to negotiating for an outcome by the 12th WTO Ministerial Conference.

Prior to the WTO gathering, Mr Yau attended the OECD Ministerial Council Meeting and spoke at a lunch on the benefits of trade in the digital era.

He said: "Digitalisation creates business opportunities and brings consumer benefits. We must equip ourselves in order to facilitate its development and capitalise on the growth opportunities.

“At the WTO, Hong Kong has joined more than 70 like-minded members to initiate exploratory work on possible future negotiations to foster the development of e-commerce and provide greater certainty for our businesses and consumers online.

“We will continue our active engagement in the process.”